Abstract: | Amongst the fiscal policy instruments introduced under Nigeria's 1986 structural adjustment programme (SAP) were export incentives, reductions in company and personal taxes, and measures to manage the exchange rate, external and domestic debt, and public sector assets. The author examines their performance and makes policy recommendations with respect to resource shifts between import-substituting and export-producing industries, the local production of raw materials, and external financing. His recommendations include gradual liberalization combined with the gradual reduction of incentives to exporters, capital market liberalization, and internal financing of debts through debt settlement and privatization/commercialization of both federal and state parastatals. Bibliogr., sum. |